COMMUNITY CARE
LiveOak Living Community, an intentional community dedicated to person-centered care for people with cognitive disabilities, is excited to announce that it will be transitioning to an Employee Ownership Trust on January 1st, 2025. An EOT is a type of employee ownership where the company is placed in a trust by the owner to be operated in the interest of the employees. EOTs are gaining traction in the United States as a viable succession plan that offers significant benefits for employees and the company. By shifting ownership to its employees, LiveOak Living Community is not only empowering its staff, but also ensuring that it will exist in perpetuity. Currently, there are only fifty EOTs in the United States with two in the state of Texas.
LiveOak Living Com- munity will be the first EOT in the United States in a healthcare related field.
Some Benefits of this transition Include:
• Higher Wages: Qualified employees will be eligible for profit-sharing and have the potential to earn higher wages, creating a more motivated workforce.
• Community Impact: By transferring the company to employees, jobs will remain in the community, where growth will positively impact the local economy.
• Better Retention and Job Security: More transparency and shared decision- making means employees are more likely to stay. Increased employee retention will positively impact continuity of care for LiveOak residents. Since the company isn’t being sold, employees can be assured their jobs are secure. LiveOak Living Community will never be sold and will be operated and governed by its employees.
• Purpose-Driven Approach: Many employee- owned companies include a purpose or mission that employees seek to protect and prioritize. Examples of these include volunteering and philanthropy. Companies that have a purpose tend to see increased growth, income and therefore retention.
An exciting benefit of the EOT model is that it provides an avenue for profit-sharing where employees will benefit from LiveOak Living Community’s growth, creating a direct link between the financial success of the company and their hard work.
The shift to an Employee Ownership Trust is a testament to LiveOak Living Community’s progressive approach to long-term care, valuing its employees as the company’s greatest asset. This transition will allow LiveOak Living Community to continue its mission of serving residents with compassion for years to come.
For more information about LiveOak Living Community and its transition to an Employee Ownership Trust, please visit liveoakliving.com or contact Angie Carballo at 512-357-4023 or ac@liveoakliving. com.
About LiveOak Living Community: LiveOak Living Community, established in 2002, is an intentional community committed to providing high-quality care and support to people with cognitive disabilities. Based in San Marcos, Texas, LiveOak Living Community offers a full range of services designed to meet the diverse needs of its residents.
Left, Tony Guidotti, senior researcher of The Ownership Project at Harvard Business School, Dr. Mark Hand, Assistant Professor in Political Science at The University of Texas at Arlington, David Seaton, owner of LiveOak Living Community, Angie Carballo, Director of Development at LiveOak Living Community, Rachel Medina, Executive Director at LiveOak Living Community, and Dr. Nien-he Hsieh, Kim B. Clark Professor of Business Administration at Harvard Business School. Right, is Rachel Medina, Executive Director, Giselle Ponce, Assistant Director of Operations, Jacky Castilleja, LiveOak Ranch Director, Miah Neer, LiveOak Apartments Director, Rachel Gisselberg, SmithHouse Director, and Angie Carballo, Director of Development at LiveOak Living Community. Photos courtesy of LiveOak Living Community
